335 Ralph Avenue Housing Development Fund Corporation (Hdfc)

3. Amendment 3

   This amendment declares the offering effective with Purchase Agreements for 50% of the Apartments, has the Sponsor pay actual expenses for unsold shares in the first year, updates the first-year start date, insurance costs, and AHC grant pricing, and makes the Sponsor responsible for New York State Transfer Tax.

   • Offering declared effective by notice dated March 3, 2026, with 7 Purchase Agreements (about 54% of 13 Apartments); effectiveness threshold set at 50%, approved by HPD
   • Sponsor pays actual operating expenses for Unsold Shares during the First Year of Operation; Shareholders pay full Maintenance per Schedule B, and any surplus stays with the Cooperative
   • First Year of Operation projected to commence on or around May 1, 2026
   • Insurance increase of approximately 13.5% funded by Sponsor in the First Year; Maintenance Charges will increase in the second year unless a lower-cost policy is obtained
   • Unadjusted Purchase Price $5,227,701.00; AHC Grant $415,000.00; Adjusted Purchase Price $4,812,701.00
   • AHC Grant secured by an enforcement mortgage and note on the Building; Purchasers must pay the Recapture Obligation if they do not occupy for the required periods
   • Sponsor, not Purchasers, responsible for New York State Transfer Tax

2. Amendment 2 March 2, 2026

   This Second Amendment raises the purchase prices of 13 apartments in the 335 Ralph Avenue HDFC cooperative, as shown in an updated Schedule A, does not affect buyers already under contract, and does not extend the plan term.

   • Purchase prices raised for 13 apartments per updated Schedule A (Exhibit A): 1A $222,074; 1B $271,660; 2A $427,297; 2B $319,799; 3A $425,566; 3B $362,473; 4A $375,464; 4B $319,799; 5A $487,000; 5B $423,907; 6A $429,664; 6B $373,999; 7B $373,999
   • Price change approved by HPD
   • Price increase does not affect purchasers already in contract as of March 2, 2026
   • Term of the CIP not extended
   • Amendment incorporated into the CIP by reference

1. Amendment 1

   This amendment replaces H.S.C. Management with Webb & Brooker, Inc. as manager, moves the projected first year of operation to around January 1, 2026, and clarifies several Purchase Agreement terms, including transfer tax responsibility.

   • Manager replaced: H.S.C. Management replaced by Webb & Brooker, Inc.
   • Projected first year of operation updated to commence on or around January 1, 2026; projected Maintenance Charges unchanged
   • Updated Schedule A and Schedule B budget attached (total projected expenses $136,720.00)
   • Purchase Agreement cover page clarifies that the Purchase Price in Schedule A already includes the AHC subsidy
   • Section 7.1: Purchasers responsible for New York State Transfer Tax; HDFC shares exempt from New York City real property transfer taxes
   • Section 16.1 corrected to reference the "Limited Warranty" section; Limited Warranty added as Exhibit B to the Purchase Agreement
   • Property Management Agreement in Exhibit 12 of the CIP replaced with the New Manager agreement
   • CIP term extended for six (6) months from the date of the amendment

Summarized from the amendments' text (scanned ones read with OCR); the filings themselves are on the Attorney General's site. 3 of 4 amendments summarized so far.